View full sizeU.S. Coast GuardThe 48-foot Two Mikes is considered a total loss after it struck the north jetty of Newport's Yaquina Bay on Monday.

The shipwreck wasn't bad. No one lost his life, and so far the fuel spill has been contained. But the half-sunken boat bobbing in the sea off Yaquina Bay represents more than just a clean-up operation and an insurance claim.

Mike Shedore, a longtime tuna fisherman in Oregon, decided to trade in his 60-foot fishing vessel two years ago for a smaller boat. He wanted to spend more time with his wife and son. His fishing buddies recommended the Two Mikes, a 48-foot fishing boat owned by a cattle rancher in Hawaii. Built in 1999, it had a steel hull and was in good shape. Shedore liked it, bought it and had it barged to Astoria.

He spent months refurbishing it with friends. They painted it, replaced the propeller, installed a new compressor and updated the refrigeration system. They expected to take it out to sea last year.

But the season came and went while Bea, 34, and Mike Shedore, 60, struggled with health issues. Pregnant with twins, she was assigned to bed rest at four months. Meanwhile, her husband's tongue swelled and his speech slurred. Soon he found it difficult to swallow.

"His symptoms got worse and worse," Bea Shedore said. "We thought he had had a stroke."

View full sizeUS Coast Guard North BendIts life raft wrapped in its rigging, the the fishing vessel Two Mikes founders near the jetty at Yaquina Bay Sunday. Photo was taken from the US Coast Guard rescue helicopter.

The diagnosis was more serious than that: Lou Gehrig's Disease. Amyotrophic lateral sclerosis, or ALS, causes the degeneration of the nerve cells in the brain and spinal cord.

There is no cure.

Mike Shedore can only communicate now through a computer. He can still walk, but his legs are weak. He can't lift more than 5 pounds. Bea Shedore, who had to quit her job as a teller in Ilwaco, Wash., where they live, takes care of her twins, their 6-year-old son and her husband.

"I'm exhausted," she said.

Still, they had the boat -- their ticket to a secure financial future.

On Sunday at 5 a.m., the Two Mikes set off from Ilwaco on its first fishing trip. At the helm, Todd Holt, a 51-year-old longtime fisherman and friend. Shane LaGue, 40, another friend and experienced fisherman, worked the deck. About 11 p.m., they approached Yaquina Bay. The seas were calm, winds slight and the visibility was good, according to the Coast Guard.

But it was dark. Holt steered towards the bay with radar.

"He was relying on radar to get us in," LaGue said, "but I kept saying something didn't seem right."

"I kept screaming," LaGue said. "This boat's going to go over. We have to get off her now."

LaGue jumped onto the jagged rock, Holt plunged into the water. When a surge pushed against the jetty, LaGue grabbed his collar and pulled him to safety.

The Coast Guard sent a lifeboat and a ground crew that met the men on the beach. They were treated for minor injuries and the Red Cross put them up in the Comfort Inn in Newport.

On Monday, a cleanup company installed a protective boom at the bay, to keep any fuel from shellfish. The Coast Guard has been monitoring the site and so far has not found much contamination. A some point, a dive crew will be deployed to inspect the boat, but no one know when that will be.

One thing is clear: the vessel is a total loss. It was insured for $190,000, but the Shedores have no idea how much money they will get.

"We were so excited," said Bea Shedore. "We were finally going to get income for the house and help with our whole situation. We were looking forward to a great year."